Bank of America Patents Blockchain Security Tools

2018-05-22

Bank of America has won a patent for a way to control access to certain aspects of a permissioned blockchain network, newly published documents show.

The patent for a somewhat innocuously titled "system for managing security and access to resource sub-components" explains how security tokens (essentially electronic keys, distinct from blockchain-based assets that mimic physical securities) would be used to grant access to certain users to the information contained in a particular block. According to the text, the system would be automated, effectively meaning that the network itself would grant and track access.